Mortgage Brokers

Advertise to Referral Sources for Commercial Loans

Advertising directly to commercial property owners for commercial real estate loans simply does not work. If you spent $10,000 on a direct mail campaign to commercial property owners, you'd probably get fewer than ten leads, and most likely you wouldn't even close a single deal.

The best way to market for commercial loans is to advertise by mail and by email to people who, because of their jobs, are in a good position to refer you commercial mortgage borrowers.

The people who, because of their jobs, are in a good position to refer you commercial loans - the best being listed first - include commercial bankers, commercial real estate brokers, property managers, other commercial lenders, CPA's, attorneys, residential mortgage brokers, residential real estate (sales) brokers, and life insurance agents.

Don't put too many property managers, residential real estate brokers, CPA's and attorneys on your snail mailing list becaue each of these classes of referral sources gets a huge volume of junk mail daily. Instead, you should only advertise to these four classes of referral sources if they would recognize your name and your company name. At least then they might open your envelopes.

Residential mortgage brokers are a great source of commercial leads, but never try to become a commercial mortgage wholesaler. You'll only get rejects and deals that are not do-able. Instead, work with residential mortgage brokers on a name and number referral basis only.

The best referral sources for commercial loan leads are by far commercial bankers and commercial real estate brokers (both leasing and sales specialists).

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